For Sale Multilet Office Investment - Offers over £600,000 - NovaLoca
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For Sale Multilet Office Investment Offers over £600,000 Broughton House, 31 Dunedin Street, Edinburgh, EH7 4JG • 907.75 Sq M (9,771 Sq Ft) • Current passing rent £54,187 per annum • Net initial yield of 8.63% and reversionary yield of 17.79%, assuming purchaser costs of 4.68% • Low capital value of £61.41 psf Lambert Smith Hampton 93 George Street, Edinburgh EH2 3ES T +44 (0)131 226 0333
Broughton House, 31 Dunedin Street, Edinburgh, EH7 4JG
Location Proposal
Broughton House is situated on Dunedin Street and lies We are instructed to seek offers in excess of £600,000
approximately 0.8km (0.5 miles) to the north east of exclusive of VAT, for our client’s Scottish freehold
Edinburgh City Centre. The area is well served by public interest in the property with the benefit of the existing
transport with excellent bus services nearby. Occupiers in leases.
the vicinity included Sixt Car Hire, Vivaldi and James F
Kidd & Son. A purchase at this level would show a net initial yield of
8.63% and a reversionary yield of 17.79%, after
Description
allowing for purchasers costs of 4.68%.
The subjects comprise 2 interlinking office buildings with
accommodation over lower ground, ground and first We believe that the property has a total ERV of £111,710
floor levels finished to the following specification: per annum assuming £10 per sq ft, £1,250 per clear car
space and £500 per blocked car space.
• Carpet covered floors
• Suspended ceilings with integral lighting EPC
• Security and fire alarm systems Broughton House has an energy performance rating of
• Tea preparation facilities D+. A copy of the EPC is available on request.
• Male and female WC's
• 7 car spaces vacant within secure garage (5 clear, 2 Viewing and Further Information
blocked) Viewing strictly by prior appointment with the sole
• Total of 13 car spaces on site agent:
Accommodation Ian Davidson Kirsty Henderson
The subjects have been measured in accordance with the Lambert Smith Hampton Lambert Smith Hampton
RICS Code of Measuring Practice (6th Edition) and the 0131 226 0328 0131 226 0336
following Net Internal Areas have been calculated: 07720 055 655 07736 620 999
idavidson@lsh.co.uk khenderson@lsh.co.uk
Suites Sq M Sq Ft
Suite 1 101.91 1,097
Suite 2 141.03 1,518
Suite 3 130.53 1,405
Suite 4 165.46 1,781
Suite 5 & 5A 114.27 1,230
Suite 6 & 6A 114.27 1,230
Suite 7 140.28 1,510
Total 907.75 9,771
VAT
The property is not elected for VAT.
Tenure
The property is held on a Scottish freehold basis.
Tenancies
Suites 1, 2 and 7 are let to Randolph Hill Nursing Homes
Group Limited until 31 May 2020. The current passing
rent is £43,562 per annum. The rent includes 4 clear car
spaces to the front of the building.
Suites 5 & 5A are let to BINAP Limited until 31 May 2020
with a tenant only break option on 11 March 2018. The
current passing rent is £10,625 per annum.
Suites 3, 4, 6 & 6A are currently vacant.
The total passing rent is £54,187 per annum. Service
charge information is available on request. The rent
includes 4 clear car spaces to the front of the building.
Broughton House, 31 Dunedin Street, Edinburgh, EH7 4JG Office Suite Image Copyright reproduced by Lambert Smith Hampton Rear of Building Image Copyright reproduced by Lambert Smith Hampton
Broughton House, 31 Dunedin Street, Edinburgh, EH7 4JG
Promap
Image Copyright reproduced by Lambert Smith Hampton
May 2016
© Lambert Smith Hampton
Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries and their joint agents if any (“LSH”) for themselves and for the seller or landlord of the property whose agents they are give
notice that:
(i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer
or contract.
(ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory
or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other
information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by
inspection or otherwise as to the accuracy of all information or suitability of the property.
(iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property
in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all.
(iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position.
(v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising
from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH.
(vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impressions or architects’ drawings or specification or scope of works or amenities,
infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to
ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with
such matters.
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